E-commerce is the idea of the hour. It is building on the scheme of the latest tech brilliance. And taking up the finest of ideas and traits to reveal ever newer possibilities at online shopping. From sleek online catalogs to endless marketplaces and omnichannel platforms, e-commerce is there to mint endless opportunities.
If that’s not much convincing ask the richest person on earth!
$3.80 Trillion now and shooting towards $5 Trillion by 2021 – e-commerce knows the pulse of trade. At this level, it never rests for a moment and you have trends speaking for it every minute ticking.
So, what’s brewing inside? Of many things happening in the sphere, we pick some really crisp trends that are there to stay and change the face of e-commerce in 2020 and beyond!
With mobile devices growing at all demographic and geographic stretches, it is only obvious for mobile commerce to make more buzz. Easy access to internet services and the ever-cheaper data plans would make it more familiar to the masses. In 2020, more people will choose mobile devices over other modes, and over 73% of e-commerce sales will come from here as we reach the end of 2021. Users would spend more internet hours shopping. And Gen Z and Millenials would be unstoppably active here!
Users are now concerned about green policies. They have a keen outlook on the environmental objectives that businesses adopt, for all good reasons! This includes how they get their material and process their products. And how ecologically fair and balanced the whole act of their trade is. Businesses that take up renewable resources and opt for sustainable packaging would influence and interest buyers more. With this, you can see free-range meat and vegan skincare products winning more demand.
Re-commerce, Resell, Reverse Commerce
E-commerce would pool in the pre-owned goods buying and selling. Well, yes this is already tried by niche players but in 2020 this is going to scale further. Apps like Letgo, OfferUp, and Poshmark, are going to grow full substance, while other big investors and market players are going to branch in. This trend shoots up from the idea of tapping the part-explored second-hand market for refurbished and repaired goods – backed by the resonating user demand that shows all signs of growth.
No zombies here! This is a situation in e-commerce where the front-end interface of the site is decoupled from the functional platform and other systems. As customers are doing purchases using different touchpoints from IoT to PWA, it is becoming ever difficult for businesses to cater to them at an inclusive seamless capacity. This brought in the need for Headless e-commerce architecture that would leverage a Customer Management System to store, manage, and deliver content without involving the interface layer. Marks the beginning of the new age of omnichannel commerce!
Both e-commerce marketers and shoppers admitted to having found a personalized shopping experience as the most impactful way to induce, engage, and retain users. The ideas like profile-based product recommendation and loyalty rewards keep customer relations strong and growing. e-commerce experts are on it with all the intent and focus. This will take in the user’s current location, browsing patterns, interest levels, demographic profile, and everything that builds value with personalization.
Over To You!
These trends are sure to catch the highlights of e-commerce in 2020 and should be the reason for its next big leap! What do you think is your personal favorite here!